David Greenspan Slate Path Capital
David Greenspan is the founder of Slate Path Capital, a long/short equity firm with roots in the Tiger Management network. The firm conducts fundamental research across sectors with an emphasis on differentiated views rather than index hugging. Greenspan’s filings attract attention among investors who follow Tiger Cub-style managers.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$581M |
| 2 |
Ally Financial
ALLY
|
+$200M |
| 3 |
General Motors
GM
|
+$190M |
| 4 |
TWTR
Twitter, Inc.
TWTR
|
+$69.6M |
| 5 |
ANDV
Andeavor
ANDV
|
+$69.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
PayPal
PYPL
|
+$241M |
| 2 |
TripAdvisor
TRIP
|
+$65.4M |
| 3 |
X
US Steel
X
|
+$2.14M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 11.87% |
| 2 | Communication Services | 8.45% |
| 3 | Financials | 6.03% |
| 4 | Healthcare | 5.75% |
| 5 | Energy | 4.83% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $1.01B | 30.58% |
4,500,000
-17,000,000
| -79% | -$3.71B |
|
|
2
State Street Financial Select Sector SPDR ETF
XLF
$57.8B
| $630M | 19.16% |
+27,100,000
| New | +$581M |
|
3
PUT
State Street Technology Select Sector SPDR ETF
XLK
$120B
| $218M | 6.62% |
+9,000,000
| New | +$215M |
|
4
Charter Communications
CHTR
$17.9B
| $216M | 6.56% |
750,000
| – | – |
|
|
5
Ally Financial
ALLY
$13.1B
| $198M | 6.03% |
+10,420,000
| New | +$200M |
|
|
6
General Motors
GM
$77.2B
| $197M | 5.98% |
+5,650,000
| New | +$190M |
|
|
ANDV
7
DELISTED
Andeavor
ANDV
| $159M | 4.83% |
1,815,000
+820,000
| +82% | +$69.6M |
|
8
Advance Auto Parts
AAP
$2.57B
| $148M | 4.5% |
875,000
+415,000
| +90% | +$65.2M |
|
9
VanEck Gold Miners ETF
GDX
$31.8B
| $133M | 4.05% |
6,375,000
+485,000
| +8% | +$10.8M |
|
10
Insulet
PODD
$10.3B
| $107M | 3.26% |
2,850,000
+130,000
| +5% | +$4.84M |
|
|
X
11
DELISTED
US Steel
X
| $88.1M | 2.68% |
2,670,000
-80,000
| -3% | -$2.14M |
|
12
Alnylam Pharmaceuticals
ALNY
$31.6B
| $74.9M | 2.28% |
2,000,000
+775,000
| +63% | +$32.4M |
|
|
TWTR
13
DELISTED
Twitter, Inc.
TWTR
| $61.9M | 1.88% |
+3,795,000
| New | +$69.6M |
|
|
SKX
14
DELISTED
Skechers
SKX
| $45.7M | 1.39% |
+1,860,000
| New | +$42.9M |
|
15
Atara Biotherapeutics
ATRA
$97.4M
| $6.75M | 0.21% |
19,000
| – | – |
|
|
16
PayPal
PYPL
$52.7B
| – | – |
-5,880,000
| Closed | -$241M |
|
17
PUT
Invesco QQQ Trust
QQQ
$486B
| – | – |
-2,600,000
| Closed | -$309M |
|
|
18
TripAdvisor
TRIP
$1.17B
| – | – |
-1,035,000
| Closed | -$65.4M |
|
Similar funds
David Greenspan's Q4 2016 Portfolio in Review
As of Q4 2016, David Greenspan held 18 positions worth $3.29B, down 45% from $6.03B the previous quarter. Its ten largest holdings account for 92% of the portfolio.
David Greenspan withdrew a net $2.85B in Q4 2016, closing 3 positions and reducing 2 holdings. Its most notable exit was PayPal, an estimated $241M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 12% of assets, up from 2.2% a quarter earlier, followed by Communication Services and Financials.
Against the trend, David Greenspan opened a new position in State Street Financial Select Sector SPDR ETF worth $630M.
- David Greenspan's largest Q4 2016 buy was State Street Financial Select Sector SPDR ETF: 27,100,000 shares worth $630M.
- David Greenspan added most to Andeavor in Q4 2016, an estimated $69.6M increase.
- David Greenspan's biggest Q4 2016 reduction was US Steel, cutting an estimated $2.14M.
- David Greenspan fully exited PayPal in Q4 2016, selling an estimated $241M.
- David Greenspan's ten largest holdings make up 92% of its $3.29B portfolio in Q4 2016.
- David Greenspan opened 6 new positions and closed 3 in Q4 2016.
- David Greenspan's portfolio value fell 45% quarter-over-quarter to $3.29B.
Based on Slate Path Capital's 13F filing for Q4 2016, filed 14 Feb 2017.